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The national registration search contains the names of all individuals and firms who are registered to sell securities in Canada, with the exception of those registered solely with the Ontario Securities Commision (OSC).

ASC ExternalSite > Investors > Investor Resources > You ASC'd Blog > Posts > Beware of "spoofing" scheme

May 18
Beware of "spoofing" scheme

Recently our enforcement team came across an investment scheme where the scam artist used a legitimate company as bait to try and separate investors from their money. The scheme involved “spoofing” or masquerading as a real company by lifting information from a legitimate company’s website on to a fictitious website for the purposes of raising funds. It’s like a case of stolen identity – the ‘fraudulent’ company even copied the biographies of some of the legitimate company’s directors.

How can you protect yourself from a spoofing scheme? When you visit a website to seek more information about an investment opportunity, scrutinize the information that is presented, and investigate further before you invest.

Here’s what to watch for:

  • Unsolicited investment opportunities made over the phone or via email.
  • Websites that ask for your contact information but do not provide you with any information about who is overseeing the company or how to contact them.
  • Misleading photos and images aimed to appeal to your dreams and emotions that don’t truly represent the investment opportunity.
  • Ads and websites that look professional, but a closer review reveals spelling and grammar mistakes.
  • Buzz words or reference to market trends - these can lure you in as you feel you are part of something "big" (e.g. green energy).
  • Language or complex diagrams that baffle you with technology jargon, but do not contain much quality information about what the investment actually entails.

What you can do:

  • If the website outlines the backgrounds of those involved in the investment opportunity, search their names on the internet to find out more about the individuals.
  • Contact the Alberta Securities Commission (ASC) to see if the company or individuals offering the opportunity are registered or if there are any current or prior enforcement proceedings, orders or decisions against them. You can search on our website, email or call toll-free 1-877-355-4488.
  • Check the credibility of the information provided by the company. One way to do so is to compare it against the information the company filed with securities regulators. For public companies, these documents are available on
  • Get independent expert advice from someone not involved in the business deal.
  • Walk away if pressured to make a decision on the investment right away.

If you or someone you know has come across this type of investment scheme, please contact ASC Public Inquiries at 403-355-4151, toll free 1-877-355-4488 or email


My name is Mark Dickey and I’m the Senior Advisor, Communications at the Alberta Securities Commission (ASC). Before moving into communications and ending up at the ASC, I worked in federal/territorial politics and was a radio news director and legislative reporter. A theme running throughout my career is working to communicate with the public so they have the information they need to make informed decisions. In my current job, this information is geared towards helping people protect themselves against unsuitable investments and investment fraud.